TASHKENT, July 11 (Xinhua) — Uzbekistan will allocate 255 million U.S. dollars to the charter capital of the joint project company for the China-Kyrgyzstan-Uzbekistan railway, as reported by Uzbek media on Thursday.
Uzbek President Shavkat Mirziyoyev recently signed a decree, approving a loan of 255 million dollars to establish Uzbekistan’s stake in the joint project company, local media quoted the National Database of Legislation of the Republic of Uzbekistan as saying.
The loan was issued under a period of 15 years, including a 7-year grace period, at an annual interest rate of 5 percent.
It will be gradually granted by the Fund for Reconstruction and Development of Uzbekistan to the country’s rail carrier, Uzbekistan Railways. A share of 14 million U.S. dollars will be allocated this year, in accordance with official documents.
The leaders of China, Kyrgyzstan and Uzbekistan signed the agreement on the implementation of China-Kyrgyzstan-Uzbekistan railway project in June this year.
